Positive global cues may push markets higher, but expect volatility due to F&O expiry

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Equity tips:-
                                           

  • Indian markets are set to open slightly higher on Thursday following positive sentiments prevailing in Asian markets and positive hangover from Wall Street. The SGX Nifty, which was trading at 10,046, up by 15 points, also indicated that the local indices may open slightly higher. Today is the expiry day for July F&O contracts, so expect some volatility in the second half of trading session.   
  • Nifty50 managed to close above five digit mark of 10,000 for the first time ever. Now, going forward, Nifty50 may face resistance in the zone of 10,080-10,100 level. On the other hand, the levels of 9,930-9,940 will act as a crucial support zone from a near term perspective.
  • Key results for the day: Dr Reddy's Laboratories, HCL Tech, ICICI Bank, ITC, Maruti Suzuki, ONGC, Exide, Glenmark, Biocon, Idea Cellular, Syngene, Reliance Capital, Tata Elxsi.
  • Back home, what looked like a dull day in the initial part of the trading session emerged as a historic day, as in the last leg of trade, the market extended its northward journey and closed at record highs. Nifty50 for the first time ever closed above the five digit mark of 10,000, while Sensex settled the day with gains of 154 points at 32,382.
  • In the US, all three equity benchmarks finished at all-time highs, supported by better-than-expected corporate results and the Federal Reserve leaving interest rates unchanged. The Dow Jones Industrial average surged 98 points to 21,711. The S&P 500 closed flat with positive bias. The Nasdaq Composite Index advanced 11 points to close at a record 6,423.
  • Majority of Asian markets have gone up in early trade on Thursday. Hong Kong's Hang Seng has risen 129 points, followed by Japan’s Nikkei 225, which has gained 20 points, while China’s Shanghai Composite has bucked the trend with a fall of 13 points. 
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